Wednesday, June 1, 2011

Rs1bn self-employment scheme launched by KPK government

Chief minister of Khyber Pakhtunkhwa Ameer Haidar Khan Hoti has said that practical steps are essential for eradication of poverty, unemployment and illiteracy from society to overcome terrorism and other problems.

During formal inauguration of Bacha Khan Khpal Rozgar Scheme at Chief Minister House on Tuesday, he said that unemployment and low literacy rate were major reasons of extremism in the province.

He added that Rs1 billion had been allocated for the programme initially to provide job opportunities to people.

“More funds will be allocated to hydel power, oil and gas, minerals, tourism, technical education and other production sectors in Annual Developmental Programme,” he said.

He also said that issuance of interest-free loans under the scheme would help provincial economy to stand on strong footing and provide job opportunities to poor people.

“This programme has not been initiated for workers of a specific party rather it is for the people of the province who have paid a huge price in the struggle for survival of the country and are courageously facing the situation,” he said.

Earlier, the executive president of Bank of Khyber threw light on objectives, procedure, volume of loans and recovery of loans under the scheme.

He said that under the scheme unemployed skilled people would be given interest-free loan of 100,000. “The bank has received 30,000 applications after distribution of 200,000 loan forms and loans provision have commenced,” he added.

He said that two per cent quota was reserved for disabled persons and 30 per cent quota for women in the scheme.